The head of EU diplomacy expects the immediate approval of this proposal by the European Council.
The High Representative of the European Union Josep Borrell presented to the EU Council an initiative to use the income from Russian fixed assets to support Ukraine. He wrote it on social networks X on Wednesday, March 20.
“Today I present the High Representative’s proposal for an EU Council decision to use the windfall from Russia’s frozen assets to support Ukraine in its fight to win,” he wrote.
Borrell clarified that his proposal aims to channel 90% of the funds through the European Peace Fund and 10% through the EU budget.
“I look forward to the swift approval of this proposal by the Rada. It will show the EU’s solidarity and its commitment to support Ukraine and its people,” added the head of EU diplomacy.
In advance, the media reported that Borrell would offer to use 90% of the proceeds from Russian assets frozen in Europe to buy weapons for Ukraine. The remaining 10% is proposed to be transferred to the EU budget for their use to increase the potential of the Ukrainian defense industry.
EU member states must decide on these measures at a summit on March 21-22 in Brussels.
Source: korrespondent
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